No shares were sold by Haleon itself, and Pfizer will receive the full proceeds from the transaction. The shares are expected to change hands on Jan. 17, provided that customary closing conditions are met.
Under the terms of a lock-up agreement, Pfizer has agreed not to sell any further shares in Haleon for at least 60 days.
In October, Pfizer had sold 640 million Haleon shares to investors at 380 pence each, raising about £2.43 billion. At that time, Haleon also bought back more than 60.5 million shares from Pfizer in a separate transaction, valued at around £230 million. These actions brought Pfizer’s stake in Haleon down from 22.6% to 15%.
Haleon was created in 2019 following the merger of GSK and Pfizer’s consumer healthcare divisions. GSK has since divested its remaining stake in the company.
